India News

The board of directors of Union Bank of India, which met today, approved a proporal to raise more capital.According to a release issued by the bank to the BSE today, the bank is planning to issue 4.5 crore equity shares, with a face value of Rs 10/- each.

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Lok Janshakti Party on Tuesday ruled out any alliance with Lalu Prasad-led RJD in the coming Bihar polls and denied reports that the party was given an ultimatum by Congress to contest the Assemmbly elections in alliance with UPA partners.

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Dengue has claimed four lives in a week in Kolkata, not even sparing the city's upscale neighbourhoods. West Bengal health chief Prabhakar Chatterjee has admitted that the fever that swept through some areas of south Kolkata is dengue or brain fever.

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An alleged gangster wanted in connection with 30 cases, including gangrape, was shot dead on Tuesday in an encounter in north-west Delhi. Rajpal alias Kalu was intercepted by policemen of the Special Cell in Rohini area. An exchange of fire ensued in which he suffered injuries.

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The government is contemplating prohibiting foreign news channels downlinking into India from carrying any programmes or advertising specifically targeted for the Indian audience, a proposal that could turn out to be a dampener on their plans to expand operations in the country.

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Unearthing a major hawala racket linked to Hizbul Mujahideen militant outfit, security forces arrested a top operator and recovered foreign currencies worth Rs 2.6 lakh in Jammu.

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Reliance Capital on Tuesday said it will invest Rs 32.27 crore for picking up 14.96 per cent stake in Spanco Telesystems and Solutions Ltd.
REL has agreed to subscribe to 29.80 equity shares and 5.70 lakhs .

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Public sector Indian Overseas Bank is planning to raise Rs 200 crore as Tier II capital. The bank informed the stock exchanges on Tuesday that a meeting of the Board of Directors will be held on August 31 to consider, among other things, raising of Tier II Capital by way of unsecured.

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In yet another major outsourcing deal, Sunil Mittal-owned Bharti Group on Monday entered into a over Rs 580 crore deal with telecom major Nokia to expand the network in eight circles.

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It probably comes pretty close to what the doctor had ordered. The UPA government’s emphasis on the aam aadmi has now reached the pharma industry. And if things go according to the government’s prescription, prices of medicines for specific diseases may not swing freely.

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A top Lashkar-e-Taiba militant, main accused in Sai Baba temple blast in Hyderabad in 2002, has been arrested by the Delhi Police, a senior police official said on Tuesday.

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Ever thought of Lion king and Amitabh Bachchan coming together in one film ? Come 26 August, and a new dimension would be added to Indian Cinema with the release of Bhaggmati, the queen of fortunes, the first Indian film which would see real life characters interacting with their animated colleagues.

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As many pundits put it: winning is a habit. It's a virtue Team India parted with sometime last season and hasn't been able to regain, yet. With the team travelling to Zimbabwe for a tri-series - also involving New Zealand - and two Tests, India couldn't have hoped for a better opponent at a time like this to get back in the groove.

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Vice Admiral Venkat Barthan was on Tuesday named as the new Vice Chief of Naval Staff. Barthan, who is at present Chief of Personnel at the Naval Headquarters, will take charge from Vice Admiral Yashwant Prasad who retires on August 31.

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A very angry Supreme Court has severely reprimanded the government for criticising its decision on doing away with government quotas in private unaided colleges.A three-judge bench, headed by Chief Justice R C Lahoti pulled up the Attorney General Milan Banerjee during a hearing of a petition seeking Schedule Caste status to dalit Christians.

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India's Sachin Tendulkar and Virender Sehwag have been selected as members of the Rest of the World XI Test and one-day squads which will take on Australia in the Johnnie Walker Super Series in Melbourne and Sydney this October.

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According to a press statement issued by Sahara, Sahara India Mass Communication Ltd. has acquired the Satellite and Pay TV broadcast rights, worldwide and in perpetuity, of the entire library of Boney Kapoor’s films.

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The Bharatiya Janata Party (BJP) would prove its strength in the upcoming civic polls by fighting it out alone, party national secretary Bandaru Dattatreya said.He attended party Telangana municipal zone meeting held here on Monday.

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Bimal Lochan Das, former president of Urban Cooperative Bank (UCB), Baripada has been booked for cheating and criminal conspiracy by State Vigilance wing.The anti-corruption wing was probing into allegations of illegal sanction of loans by the bank.

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The Foreign Investment Promotion Board (FIPB) has recommended that Caltex Gas India be exempted from divesting its 26 per cent stake to Indian residents. The FIPB has now sent the recommendation to Finance Minister P Chidambaram.

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The income funds of mutual funds have seen a substantial outflow over the past one year owing to uneven performance forced by a volatile debt market.At the end of July 2005, assets managed under 45 income schemes totalled Rs 4174 crore, down 72 per cent from what they were a year ago.

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Indian Oil Corporation (IOC) is expected to post Rs 20,000 crore loss this financial year if it is not allowed by the government to raise retail price of petroleum and other petroleum companies agree to share the subsidy burden.

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Engineering and construction major Larsen & Toubro (L&T) has drawn up plans to ramp up its international business by three times over the next five years.The move is likely to take L&T’s share in the company’s total business from 15 per cent to 25 per cent.

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Drug major Ranbaxy Laboratories (RLL) has zeroed in on a research-based pharmaceutical company in Germany as part of its inorganic growth plan in Europe.Ranbaxy, which is in the process of due diligence, would soon sign a primary agreement with the company to acquire a controlling stake, said a source close to the deal. 

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Reliance Energy (REL) has approached GAIL India for transporting gas for its 4000 MW power plant coming up at Dadri in Uttar Pradesh.  GAIL has offered solutions to transport gas from the Krishna-Godvari (KG) basin to Dadri by using a part of the Hazira-Vijaipur-Jagdishpur (HVJ) network. 

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The first draft regulations on pension will be ready by first week of September, the Pension Fund Regulatory and Development Authority chairman D Swarup said on Tuesday.

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HCL Technologies Ltd on Tuesday posted 1.08 per cent rise in net profit of Rs 329.27 crore for the year ended June 30, 2005 as compared to Rs 325.72 crore in the previous fiscal.

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Anil Ambani controlled Reliance Capital Ltd on Monday said it has allotted 38 lakh equity shares upon exercise of option by AAA Enterprises Pvt Ltd.

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Prime Minister Manmohan Singh pays a two-day visit to Afghanistan on August 28-29 in what will be the first visit to that country by an Indian head of Government in nearly three decades.The last Indian Prime Minister to visit Kabul was Indira Gandhi in 1976.

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The Delhi Police are going to appeal against the Supreme Court’s August 4 decision acquitting DU lecturer SAR Geelani and Afsan Guru of all charges in the Parliament attack case and reducing Shaukat Hussain Guru’s death sentence (given by the Delhi HC) to 10-year’s imprisonment.

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Indian captain Sourav Ganguly justified India's selection of playing three left-arm medium-pacers in one-day internationals in the recent tri-series in Sri Lanka and welcomed the idea of having them in the team if they produced the desired results.

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Police have gunned down two Maoist guerrillas in Andhra Pradesh, in the first gun battle after the re-imposition of a ban on the rebels.The gun battle occurred on Monday night near Gokapuram village, about 150 km from Hyderabad, in Mahbubnagar district.

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Gujarat Chief Minister Narendra Modi has accepted the resignation of state Youth and Cultural Affairs Minister Bavkubhai Nathabhai Ughad.Ughad had alleged that he was "humiliated" by the Gujarat cabinet for going to former chief minister Keshubhai Patel's house on August 17.

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India would hold discussions on bilateral and regional matters with the Palestinian Authority (PA), Israel, and Jordan.This will be soon after the implementation of the disengagement plan by the Jewish state.

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Two months ago Railway Minister Laloo Prasad Yadav inaugurated the railway line in Saharsa, about 200 kilometes north of Patna.But problems over a wooden bridge on the route and poor service have turned it into a flop.

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Medical stores in India continue to sell drugs that are banned by the government. An undercover reporter in Delhi recently bought a banned drug and was also given a bill by the chemist.

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Consensus continued to elude the Women's Reservation Bill, which is unlikely to see the light of the day during the current session of Parliament.

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Police in Delhi say they have arrested a militant of the Lashkar-e-Toiba. Abu Razak Masood had been based in Dubai and was the coordinator of the group.He was arrested in Zakir Nagar area in the south of Delhi on a tip off, Deputy Commissioner of Police Ajay Kumar said.

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Supporting the Central Vigilance Commission's (CVC) stand against BSP chief Mayawati in the Taj corridor scam, Samajwadi Party has said that it is not surprised over the recommendation.

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The NDA plans to single out Railway Minister Lalu Prasad Yadav in Parliament, over remarks he made in reaction to Bihar Governor Buta Singh.In an interview to a television channel, Lalu was said to have called Buta Singh his nominee.

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11 people were killed and another 15 were believed to be trapped under rubble after a four-storey building in Mumbai collapsed on early Tuesday, a fire department official said.

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